Weight Loss Drug Wars Heat Up: Novo Nordisk Cuts Prices, but Eli Lilly Won't Sweat It

NovoNordisk just dropped prices on Wegovy and Ozempic — lowest doses now $199/month for two months, then $349/month. Meanwhile, Eli Lilly’s Zepbound already went cheaper too ($299 for lowest dose).

Here’s the thing though: this isn’t a bloodbath situation for Lilly.

Why? The weight loss drug market is absolutely massive and both companies are printing money. We’re talking a $100B market by 2030 — there’s room for both players. Novo hit the market first with semaglutide, but Lilly’s tirzepatide showed better results (20% weight loss vs 13% in trials), so people actively chose Lilly’s stuff.

Patient switching costs are real too. If you’re already on Zepbound and it’s working, you’re not jumping ship just because Wegovy is $150 cheaper. Same goes for doctors recommending their go-to drug.

The real story: price cuts are actually a sign of market maturity, not desperation. Both companies are fighting for the self-pay segment (insurance barely covers weight loss indication), and lower prices = more accessible = bigger market pie.

Lilly’s not sweating this. Lilly shares kept climbing even as Novo stumbled — that’s because investors still believe in the market size and Lilly’s edge. Expect both to coexist as giants in this space, not a winner-take-all scenario.